April 19th, 2018

Business

DavidsTea swings to loss on charges but says e-commerce improving

By The Canadian Press on April 19th, 2018

MONTREAL – DavidsTea Inc. says it swung to a loss in its last quarter as onerous contract charges and impairments weighed on its balance sheet. The specialty tea retailer says it had a loss of $16.1 million for the fourth quarter ending Feb. 3, compared with net income of $2 million for the same quarter ... Read More »

Be the first to comment!

Board approves austerity plans for Puerto Rico amid protests

By Danica Coto, The Associated Press on April 19th, 2018

SAN JUAN, Puerto Rico – A majority of federal control board members approved new austerity measures for Puerto Rico on Thursday, saying they would help revitalize the economy and create more jobs amid the U.S. territory’s 11-year recession, while the island’s governor fired off a flurry of tweets promising to defy them. The measures contained ... Read More »

Be the first to comment!

Texas deputy stumbles upon suspect in Vegas picnic shooting

By Ken Ritter, The Associated Press on April 19th, 2018

LAS VEGAS – A disgruntled casino employee accused of shooting two executives at a company picnic in Las Vegas planned an escape and spent days on the run before a sheriff’s deputy happened upon him sleeping in a car Thursday near a small Texas Panhandle town, authorities said. A deputy on routine patrol checked the ... Read More »

Be the first to comment!

Ottawa’s new privacy rules give businesses flexibility on data breach reporting

By David Paddon, The Canadian Press on April 19th, 2018

TORONTO – Federal data breach regulations set to take effect Nov. 1 will require mandatory reporting of security breaches that pose a “real risk of significant harm,” but give businesses flexibility about how that’s done. Ottawa has rolled out the long-awaited requirements in a notice in the Canada Gazette that indicates the government wanted to ... Read More »

Be the first to comment!

Rogers Q1 profit, adjusted earnings soar on revenue growth

By The Canadian Press on April 19th, 2018

TORONTO – Rogers Communications Inc. reported a $425 million net profit in its first quarter, up 37 per cent from $310 million in the comparable period last year. The wireless, cable, internet and media company’s adjusted earnings grew even more, rising by 45 per cent to $477 million under new accounting rules that Rogers began ... Read More »

Be the first to comment!

Campbell Soup Company names Mississauga as site for new headquarters

By The Canadian Press on April 19th, 2018

MISSISSAUGA, Ont. – Campbell Soup Company says its new Canadian headquarters will open in Mississauga, Ont. It will be located in the Airport Corporate Centre region, which is a 15-minute minute drive from its soon-to-be-closed Etobicoke manufacturing plant. The company decided to shutter the 87-year-old plant in January and cut 380 jobs, citing complications with ... Read More »

Be the first to comment!

Toronto and U.S. stock markets close lower on disappointing earnings

By Ian Bickis, The Canadian Press on April 19th, 2018

Disappointing earnings and sliding commodity prices had both Canada’s main stock index and U.S. markets closing lower Thursday. The lower-than-expected earnings mostly came from U.S. stocks, but the downward pressure also had a knock-on effect on the Toronto market, said Candice Bangsund, vice president and portfolio manager at Fiera Capital Corp. “Both the U.S. and ... Read More »

Be the first to comment!

Toronto and U.S. stock markets close lower, loonie dips

By The Canadian Press on April 19th, 2018

TORONTO – Sliding commodity prices and disappointing earnings had both Canada’s main stock index and U.S. markets closing lower Thursday. The S&P/TSX composite index closed down 75.55 points at 15,454.42. In New York, the Dow Jones industrial average ended 83.18 points to 24,664.89. The S&P 500 index closed down 15.51 points to 2,693.13 and the ... Read More »

Be the first to comment!

New auto rules will be the ‘core’ of future NAFTA deal, Freeland predicts

By Alexander Panetta, The Canadian Press on April 19th, 2018

WASHINGTON – New automotive rules will be the centrepiece of a new NAFTA agreement, Foreign Affairs Minister Chrystia Freeland said during a negotiating round Thursday that remained focused on cars. In an exchange with reporters between sessions at the U.S. trade representative’s office across from the White House, Freeland said she and her peers are ... Read More »

Be the first to comment!

Governor General calls Southwest Airline pilot a hero for showing nerves of steel

By Ross Marowits, The Canadian Press on April 19th, 2018

MONTREAL – Gov. Gen. Julie Payette says a Southwest Airlines pilot who landed her plane safely after a mid-air engine mishap is rightfully being called a hero. Payette told aviation officials Thursday that Capt. Tammie Jo Shults showed nerves of steel as she deployed years of training as a U.S. Navy fighter pilot to avoid ... Read More »

Be the first to comment!